TOKYO, Oct. 21 /PRNewswire/ -- North America's Kelsey-Hayes Group will continue to strengthen its presence in the Asian market over the next decade, according to John Utley, Kelsey-Hayes chairman and chief executive officer. At the Tokyo Motor Show today, Utley outlined the Kelsey-Hayes commitment to the automotive community in Asia.
"At the Tokyo Motor Show in 1991, Kelsey-Hayes introduced its EBC 10(TM) family of four-wheel, lightweight, low-cost, smaller-size anti-lock brake systems," Utley said. "We selected the Tokyo Motor Show as the site for our international introduction of this innovative new ABS to demonstrate our commitment to the worldwide automotive industry, including the important Japanese and Asian automotive manufacturers. Today, I'm pleased and proud to announce that we have solidified that commitment and will continue to grow in the Japanese market through a joint venture company formed with Topy Industries this summer."
ABOUT TOPY/KELSEY-HAYES, LTD.
The joint venture company, Topy/Kelsey-Hayes, Ltd., was formed in July 1993. Owned 50 percent by Kelsey-Hayes and 50 percent by Topy Industries, Topy/Kelsey-Hayes markets Kelsey-Hayes two- and four-wheel ABS, including the new EBC 10 family of ABS, in Japan, Australia, Indonesia, Malaysia, New Zealand, Taiwan and Thailand.
Headquartered in Tokyo, the joint venture is responsible for sales, application engineering and technical support for Kelsey-Hayes two- and four-wheel ABS in Asia. Headed up by Hiroshi Honma, president, and Robert Crumley, vice president, Topy/Kelsey-Hayes is also evaluating options for manufacturing the company's ABS products in Japan and/or other Asian countries.
"As acceptance for our new EBC 10 family of ABS continues to grow in Japan and throughout Asia, we will continue to explore options to better serve our customers there -- including new manufacturing sites located in Asia," Utley said.
In addition to the headquarters in Tokyo, Topy/Kelsey-Hayes operates a test track in Hokkaido, Japan, and a research and development center and test track in Toyohashi, Japan.
ABOUT THE EBC 10 FAMILY
The EBC 10 family of ABS is lighter, smaller and more cost-effective than traditional ABS. It is compatible with virtually any front-, rear-, or all-wheel-drive passenger car or light truck, and easily includes traction control.
Since the innovative EBC 10 family was introduced at the Tokyo Motor Show in 1991, Kelsey-Hayes has received contracts worldwide valued at more than $380 million US annually -- including a contract with a North American/Japanese joint venture company in the U.S. valued at $60 million US annually.
ABOUT FOUNDATION BRAKES
While Topy/Kelsey-Hayes and the EBC 10 family of ABS play an important role in the Kelsey-Hayes Group's commitment to the Asian market, the company's commitment to Asia doesn't end there. "There is more to Kelsey-Hayes than ABS," Utley said. "We also market a complete line of foundation brake products to Asian automakers such as Isuzu, Mazda, Hyundai, Kia and Subaru, mainly in the U.S.A. but also for some Asian production."
The Kelsey-Hayes Foundation Brakes Group is one of the world's leading independent manufacturers of foundation brake products and systems, including integrated corner module assemblies, calipers, rotors, drums and knuckles.
The Worldwide ABS and Controls Group of Kelsey-Hayes is a leading producer of ABS, with locations in North America, Europe and Japan.
The Kelsey-Hayes Group is a major supplier of conventional brakes, anti-lock brake systems and electrical control devices to the automotive industry worldwide. Hayes Wheels International (NYSE: HAY), one of the world's largest manufacturers of steel and aluminum wheels, is an affiliate of Kelsey-Hayes. Kelsey-Hayes is a business of Varity Corporation (NYSE: VAT).
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/CONTACT: Jill Lucius, 313-567-5022, or Tony Petrucci, 313-567-5007, both of Anthony M. Franco Inc., for Kelsey-Hayes Group/
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CO: Kelsey-Hayes Group; Topy Industries ST: Michigan IN: AUT SU:
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